Avingtrans reported strong progress for H1 19. Sales grew by 11% organically with a 350bps increase in adjusted operating margin, as the group focuses on the build phase of its buy, build and sell strategy. Both Energy divisions delivered good growth, while the smaller Medical division continued to build capability. Momentum remains strong, underpinned by order wins, and management is confident in the outlook. The shares remain on undemanding EV/EBITDA multiples (8.3x FY19, 7.1x FY20), offering ....
27 Feb 2019
Good growth for H1 19, in line with expectations
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Good growth for H1 19, in line with expectations
Avingtrans plc (AVG:LON) | 405 -12.2 (-0.7%) | Mkt Cap: 134.0m
- Published:
27 Feb 2019 -
Author:
Jo Reedman -
Pages:
3
Avingtrans reported strong progress for H1 19. Sales grew by 11% organically with a 350bps increase in adjusted operating margin, as the group focuses on the build phase of its buy, build and sell strategy. Both Energy divisions delivered good growth, while the smaller Medical division continued to build capability. Momentum remains strong, underpinned by order wins, and management is confident in the outlook. The shares remain on undemanding EV/EBITDA multiples (8.3x FY19, 7.1x FY20), offering ....